Infosys beats analysts's expectaions with 6.6% rise in net

14 January 2016

Infosys has posted a 6.61 per cent rise in net profit for the quarter ended 31 December beating analysts' estimates, during a seasonally-weak third quarter.

The country's second-largest software exporter posted a net profit of Rs3,465 crore on a consolidated basis for the quarter ended 31 December 2015, as compared with Rs3,250 crore recorded during the same period a year ago.

The Benguluru-headquartered company's total income rose to Rs16,704 crore for the period under review, as against Rs 14,636 crore posted during the year-ago period.

Infosys has posted a net profit of Rs3,183 crore on a standalone basis for the quarter under review, compared with Rs 3,055 crore million for the quarter ended 31 December 2014.

Its standalone total income rose to Rs14,299 crore for the quarter ended 31 December 2015, compared with Rs13,015 crore for the quarter ended 31 December 2014, the company said in a BSE filing.

''We have been able to navigate the quarter better than our earlier expectations,'' said Infosys chief financial officer MD Ranganath. ''We will continue to focus on enhancing operational efficiency through multiple levers in the coming quarters.''

Liquid assets including cash and cash equivalents, available-for-sale financial assets and government bonds were Rs 31,526 crore as on 31 December 2015, compared with Rs32,099 crore as on 30 September 2015.

"We are seeing Infoscions becoming innovators, bringing innovation and client value to each individual project. This confidence can only come from a culture of learning and empowerment, and this is the kind of company we are endeavoring to create," said Vishal Sikka, CEO and MD.

"Alongside grassroots innovation, we continue to see growing adoption of our Aikido services, bringing the power of intelligent systems, automation and software to amplify the skills and imaginations of our people. This combination helped us deliver encouraging results despite the traditional seasonality of the quarter and the additional headwinds, and will strengthen the execution of our strategy towards consistent profitable growth,'' he added.

Infosys has provided a revenue guidance of 12.8-13.2 per cent in constant currency and 16.2-16.6 per cent in rupee terms for the fiscal year ending March 31, 2016 on December 31, 2015, on exchange rates.